85 Blanket Pass Unit LOT 123 Covington, GA 30016
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About this home
Silver Ridge Farms in Covington boasts a prime location and a vibrant community, conveniently situated just minutes from I-20, shopping centers, dining establishments, parks, schools and Covington Square. Welcome to this stunning and meticulously maintained home located on a corner lot, featuring 4 generously sized bedrooms and 2.5 bathrooms. The bedrooms are adorned with vaulted and trey ceilings, and there is an upgraded formal dining room with a coffered ceiling. The home showcases an open and spacious traditional floor plan with a ceiling height of 9 feet on the main level. A bright and welcoming two-story entrance foyer allows natural light to fill the space throughout the day. The magnificent, oversized Master Suite is facing to the east, capturing the morning sunlight, making it an ideal spot for a sitting area or lounge. Numerous upgrades enhance the home, including a neutral paint palette complemented by warm natural accents, hardwood flooring on the main level, a hard-wired home security system, white kitchen cabinets, stunning Galaxy Black granite countertops in the kitchen, and all stainless-steel Samsung appliances. The expansive open-concept Family Room provides a view of the breakfast area, kitchen, and private backyard. The covered patio serves as an excellent space for entertaining guests, grilling, outdoor cooking, or simply relaxing while enjoying a beautiful view of nature. Professional landscaping, easy to maintain leveled front, side and backyard. Home has irrigation system throughout yard with soil irrigation-moisture controller. Additionally, the property features a spacious 2-car garage with extra storage options, a leveled driveway that accommodates up to 4 cars, and an additional parking pad. The Seller's Property Disclosure and community information are available upon request.
Source: FMLS #7659705
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
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